23rd Feb'2021 (Evening)

23rd Feb'2021 (Evening)

  • The FII selling aggravated today. Selling more than 1500Cr. On the futures though the activity was minimal. They hardly created any longs and shorted 1707 contracts.
  • Options data indicates a slight support from here. As mentioned yesterday, i was not expecting a deep fall from this level. My view remains the same as of now. Though I reserve the right to be wrong :-).
  • Options indicate a range of 14500-15000 for Nifty and 35000-36000 on Bank Nifty as of now. 
  • Nifty did not break yesterdays low and that is a good sign. Bank Nifty though did break the low and closed with a 140 point loss. Bank Nifty is at its 20DEMA and may pick support from here. If broken then the next supports are deeper from here. Do not expect that to happen though. Lets see.
  • The market breadth was positive today, again a good sign. Financials and Pharma were majorly the losers today. 
  • The futures picked up on some premium today, indicating support.
  • All in all I have a positive bias for the markets from here till expiry. Though i am prepared to manage positions either ways.
  • Volatility stays.

 1. FII were net sellers for 1569 Cr today, while DII were buyers for -216 Cr. A net selling of 1353 Cr from the institutional side.

2. FII's created 199 longs and created 1707 shorts on the indices

3. On the option front FII  sold 17601 calls and   sold 15117 puts. They also bought 32513 calls and  bought 20920 Puts.

4. For next week expiry, Nifty has the highest OI for PE at 14000 followed by 14500 and highest OI for CE is at 15000 followed by 14800. Highest Put writing was seen at 14700 and highest call writing was seen at 14800 levels.

5. For the next week expiry, Bank Nifty has the highest OI for PE at 35000 followed by 34500 and highest OI for CE is at 36000 followed by 37000. Highest Put writing was seen at 35000 and highest call writing was seen at 35500 levels. 

6. Asian markets closed mostly in green and European markets closed in mixed

7. US markets trading with some losses

8. The breadth of the market was very strong today

9. Nifty opened at 14782 and made an intra day high of 14854 and a low of 14651 before closing at 14707 .The range of Nifty for the day was 203 points.

10. Bank Nifty opened at 35540 and made an intra day high of 35680 and a low of 34976 before closing at 35116 .The range of Nifty for the day was 704 points.

11. UD Dollar Index is trading at 90.17

12. Energy, Auto, realty stocks supported the markets today.

13. India VIX reduced marginally to 25.23

14. US 10Y yields trading at 1.36


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